Content about Sycamore Partners

April 16, 2014

Sycamore Partners announced that it has reorganized the remaining businesses of The Jones Group into four independent operating companies: the Nine West Group, a jeanswear company (which will be named later), Jones New York, and the Kasper Group.

New York -- Sycamore Partners announced that it has reorganized the remaining businesses of The Jones Group into four independent operating companies: the Nine West Group, a jeanswear company (which will be named later), Jones New York, and the Kasper Group. Each will operate as an independent company led by its own management team. In line with the new decentralized structure, Wesley R. Card will step down as CEO and John T. McClain will step down as CFO of The Jones Group

April 7, 2014

The Jones Group Inc. announced that its shareholders overwhelmingly voted to approve the company’s acquisition by Sycamore Partners.

New York -- The Jones Group Inc. announced that its shareholders overwhelmingly voted to approve the company’s acquisition by Sycamore Partners.

Under the terms of the deal, Sycamore will acquire Jones for $15.00 per share in cash, or a total transaction value of approximately $2.2 billion.

March 13, 2014

Aeropostale announced it has signed an agreement with private equity firm Sycamore Partners for $150 million in financing and a strategic partnership.

New York -- Aeropostale on Thursday announced it has signed an agreement with private equity firm Sycamore Partners for $150 million in financing and a strategic partnership. The teen retailer also reported its fifth straight quarterly loss amid a 15% decline in same-store sales, and announced it will close 50 stores in 2014.

Sycamore will provide Aeropostale with a five-year $100 million term loan facility, and a ten-year $50 million term loan facility that includes a sourcing arrangement with MGF Sourcing, an affiliate of Sycamore.

March 3, 2014

The Jones Group Inc. has scheduled a special meeting of The Jones Group shareholders for April 7, 2014 to consider and vote upon the previously announced merger agreement entered into with Sycamore Partners on Dec. 19, 2013.

New York -- The Jones Group Inc. has scheduled a special meeting of The Jones Group shareholders for April 7, 2014 to consider and vote upon the previously announced merger agreement entered into with Sycamore Partners on Dec. 19, 2013. Under the agreement, affiliates of Sycamore Partners will acquire The Jones Group for $15 per share in cash, or about $1.2 billion.

December 20, 2013

The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners.

New York -- The Jones Group has accepted a buyout offer of $15 per share in cash, or a total of approximately $1.2 billion, from private equity firm Sycamore Partners. Upon completion of the deal, Jones, whose brands include Nine West, Anne Klein and Easy Spirit, will become a privately held company.

November 27, 2013

The Jones Group has reportedly set Dec. 1 as a final deadline for a buyout bid from Sycamore Partners.

New York – The Jones Group has reportedly set Dec. 1 as a final deadline for a buyout bid from Sycamore Partners. According to Women’s Wear Daily, with the assistance of Citi Jones Group has gone through an extensive auction process which at times included KKR & Co. and G-III Apparel Group Ltd.

September 17, 2013

Private-equity firm Sycamore Partners disclosed through a filing with the U.S. Securities and Exchange Commission on Tuesday that an affiliate, Hummingbird LLC, had taken an 8% stake in Aeropostale.

New York -- Private-equity firm Sycamore Partners disclosed through a filing with the U.S. Securities and Exchange Commission on Tuesday that an affiliate, Hummingbird LLC, had taken an 8% stake in Aeropostale.

Sycamore through its Hummingbird LLC unit, bought about 6.3 million shares of Aeropostale, according to the filing. That would make it the retailer’s fourth-largest shareholder, according to data compiled by Bloomberg.

 

August 23, 2013

Pathlight Capital, part of Sycamore Partners, said it will serve as the administrative and co-collateral agent on a $28 million secured term loan facility to Montreal-based jewelry retailer Birks & Mayors.

Boston -- Pathlight Capital, part of Sycamore Partners, said it will serve as the administrative and co-collateral agent on a $28 million secured term loan facility to Montreal-based jewelry retailer Birks & Mayors.

The loan, which matures August 2018, amends an existing $18 million term loan; the Junior Capital Division of Wells Fargo Capital Finance will serve as the co-collateral agent on the facility.   

June 13, 2013

Private equity outfit Sycamore Partners said Thursday it has completed its previously announced acquisition of Hot Topic, valued at about $600 million and returning the Hot Topic namesake stores and the Torrid banner to the private sector.

City of Industry, Calif. -- Private equity outfit Sycamore Partners said Thursday it has completed its previously announced acquisition of Hot Topic, valued at about $600 million and returning the Hot Topic namesake stores and the Torrid banner to the private sector.

"Hot Topic and Torrid are both leaders in their categories, and we are excited to have both brands as part of our portfolio," said Stefan Kaluzny, managing director of Sycamore Partners.  

 

March 7, 2013

Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

City of Industry, Calif. -- Hot Topic announced it has agreed to be acquired by New York-based private equity firm Sycamore Partners for $14.00 per share in cash, or a total of approximately $600 million.

The agreement, unanimously approved by Hot Topic’s board of directors, represents a premium of approximately 30% over Hot Topic’s closing stock price on March 6, 2013.

October 10, 2012

By Michael Dart, Todd Hooper and Jay Agarwal

By Michael Dart, Todd Hooper and Jay Agarwal

Although it isn’t as sexy as luxury or as dramatic as discount, the space somewhere in between is heating up.

In fact, recent deal activity suggests that retailers that cater to both low- and high-income segments — those serving “the middle” — have tremendous potential.

August 7, 2012

Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots.

Hingham, Mass. -- Private equity firm Sycamore Partners, which has wrapped up its $391 million acquisition of The Talbots, appointed Michael Archbold, formerly president and COO of Vitamin Shoppe, as CEO and CFO of Talbots. Archbold, who also served as executive VP and CFO of Saks Fifth Avenue, replaces Trudy Sullivan, who resigned from the CEO’s job after Sycamore completed its acquisition of Talbots late last week.

July 30, 2012

Sycamore Partners extended its tender offer to buy The Talbots Inc. to Aug. 2.

New York -- Sycamore Partners extended its tender offer to buy The Talbots Inc. to Aug. 2. It is the second extension given by Sycamore to the retailer.

The private equity firm said in May that it would buy Talbots for $193.3 million. The tender offer was previously scheduled to expire at 5 p.m. ET on July 27.

July 16, 2012

Sycamore Partners extended the expiration date of its tender offer to buy The Talbots by 14 days.

New York -- Sycamore Partners extended the expiration date of its tender offer to buy The Talbots by 14 days. Sycamore said in May that it would buy the women's apparel retailer for $193.3 million, or $2.75 per share -- a price that was lower than its previous offers.

The tender offer was previously scheduled to expire at midnight, New York City time, on July 13. It now has been extended to July 27.
 

June 13, 2012

The Talbots Inc. said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.

Hingham, Mass. -- The Talbots Inc. said private-equity firm Sycamore Partners extended the date of the commencement of its offer to buy the women's apparel retailer by two days.

Sycamore will now begin its offer for all outstanding Talbots' shares on June 15, Talbots said in a statement.
 

May 31, 2012

After announcing that talks between private equity firm Sycamore Partners and Talbots had ended, then issuing an update that negotiations had resumed but without exclusivity, the pair said Thursday that a deal has been struck.

Hingham, Mass. -- After announcing that talks between private equity firm Sycamore Partners and Talbots had ended, then issuing an update that negotiations had resumed but without exclusivity, the pair said Thursday that a deal has been struck.

Sycamore Partners is acquiring the apparel retailer for approximately $193.3 million, according to Thursday’s announcement.

Including debt, the deal is valued at close to $369 million.

May 29, 2012

Talbots said that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer.

Hingham, Mass. -- Talbots said Friday that Sycamore Partners had walked away from negotiations over a proposed $215 million buyout of the retailer. The company, which also reported first quarter results, said it was exploring other strategic alternatives.

May 23, 2012

Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer.

Hingham, Mass. -- Talbots Inc. said is extending its talks with Sycamore Partners about an acquisition offer. It is the second time the chain has extended the talks.

Talbots has extended the period of time during which it will talk solely with the private equity firm about its $211 million takeover offer until Thursday.

The first time Talbots extended the exclusivity period was a week ago, when it announced that the talks would continue until Wednesday.

May 16, 2012

The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

Hingham, Mass. -- The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

Talbots had entered into an exclusivity agreement with Sycamore on May 5, which was due to expire on May 15.

May 7, 2012

The Talbots Inc. said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners.

Hingman, Mass. -- The Talbots Inc. said it has received a raised takeover offer of $214.6 million from private equity firm Sycamore Partners. The company also said it entered an exclusivity agreement with Sycamore, which will end on May 15.

Talbots said Sycamore had offered to pay $3.05 per share -- slightly higher than the $3.00 per share offer it made in December.

The board of retailer said it continues to evaluate strategic alternative.

January 30, 2012

The Talbots is in buyout talks with the private-equity firm Sycamore Partners, according to the Boston Herald.

New York City -- The Talbots is in buyout talks with the private-equity firm Sycamore Partners, according to the Boston Herald. The retailer signed a confidentiality agreement on Friday with the New York-based Sycamore, its second largest shareholder with 10% of the company, according to documents filed with the U.S. Securities and Exchange Commission, the report said.

December 20, 2011

Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company.

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

November 3, 2011

Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.

New York City -- Sycamore Partners, a private equity firm based in New York, and Limited Brands announced that Sycamore has acquired a controlling 51% interest in Mast Global Fashions, the third-party apparel sourcing division of Limited Brands.

Limited Brands will retain a 49% stake in this standalone apparel production and sourcing company. Terms of the transaction were not disclosed. Limited Brands will retain 100% ownership of its separate sourcing operation for their intimate apparel and personal care/beauty businesses.